Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Statements

THE JONES FINANCIAL COMPANIES, L.L.L.P.

(Parent Company Only)

CONDENSED STATEMENTS OF FINANCIAL CONDITION

	December 31,		December 31,
(Dollars in millions)	2023		2022
ASSETS:
Cash and cash equivalents	$	157	$	216
Investment securities		119		16
Investment in and receivable from subsidiaries		4,421		3,737
Other assets		81		68
TOTAL ASSETS	$	4,778	$	4,037
LIABILITIES:
Accounts payable and accrued expenses	$	151	$	218
Partnership capital subject to mandatory redemption	$	4,627	$	3,819
TOTAL LIABILITIES	$	4,778	$	4,037

THE JONES FINANCIAL COMPANIES, L.L.L.P.

(Parent Company Only)

CONDENSED STATEMENTS OF INCOME

	For the Years Ended December 31,
(Dollars in millions)	2023			2022			2021
NET REVENUE
Subsidiary earnings	$	1,561		$	1,386		$	1,593
Management fee income		2,804			2,391			2,395
Other		57			20			13
Total revenue		4,422			3,797			4,001
Interest expense		132			92			92
Net revenue		4,290			3,705			3,909
OPERATING EXPENSES
Compensation and benefits		2,672			2,301			2,303
Other operating expenses		6			—			1
Total operating expenses		2,678			2,301			2,304
INCOME BEFORE ALLOCATIONS TO PARTNERS	$	1,612		$	1,404		$	1,605
Allocations to partners		(1,612	)		(1,404	)		(1,605	)
NET INCOME	$	—		$	—		$	—

THE JONES FINANCIAL COMPANIES, L.L.L.P.

(Parent Company Only)

CONDENSED STATEMENTS OF CASH FLOWS

	For the Years Ended December 31,
(Dollars in millions)	2023			2022			2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	—		$	—		$	—
Adjustments to reconcile net income to net cash provided by    operating activities:
Income before allocations to partners		1,612			1,404			1,605
Changes in assets and liabilities:
Investment in subsidiaries		(637	)		58			(71	)
Investment securities		(103	)		(105	)		(276	)
Other assets		(13	)		(27	)		14
Accounts payable and accrued expenses		12			(5	)		1
Net cash provided by operating activities		871			1,325			1,273
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in subsidiaries		(47	)		—			—
Net cash used in investing activities		(47	)		—			—
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of partnership loans		58			71			17
Issuance of partnership interests		638			63			66
Redemption of partnership interests		(386	)		(336	)		(260	)
Distributions from partnership capital		(1,193	)		(1,173	)		(1,153	)
Net cash used in financing activities		(883	)		(1,375	)		(1,330	)
Net decrease in cash and cash equivalents		(59	)		(50	)		(57	)
CASH AND CASH EQUIVALENTS:
Beginning of year		216			266			323
End of year	$	157		$	216		$	266
NON-CASH ACTIVITIES:
Issuance of general partnership interests through    partnership loans in current year	$	319		$	276		$	222
Repayment of partnership loans through distributions from    partnership capital in current year	$	157		$	191		$	225
Declaration of distributions from subsidiary in current year    but received after year end	$	930		$	667		$	434
Declared distributions for retired partnership capital    in current year but unpaid at year-end	$	140		$	219		$	254